What’s the CX buzz this week? (24th Mar, 2015)

Customer experience management can get tricky at times. Most companies find it challenging to identify the right metric to measure the success of a CX program. Also, its impact is yet to be clearly understood by many in the practice. Even though 90% of executives believe that CX is important to their business and 80% of them feel that it will be a major differentiator for customers, 86% of them feel overall business will remain unaffected. While we feel that there is still some room for the CX industry to mature, there are definitely well accepted ways to start a CEM Program by gathering existing data about your customer touch points and measuring satisfaction etc.

Let us know your thoughts by commenting below, or reach out to us on Twitter: @NICE_CX.

ROI is one of the most important factors in any business decision. CX as such is considered to be more of a culture than a metric. In that case, how do we measure it? How do we justify spend on CX programs? Simple. Keep an eye on whether customers keep coming back to you, according to Marsha Collier, a CX expert.

Listening to customers is the most important part of any CX program. However, customer surveys can be tricky. You want the customers to take time and share their views in a compelling way, yet the process itself should not bother them a bit. The author suggests some methodologies in this area for optimum utilization of resources at hand.

Did you know that approximately $76 billion in revenue was at risk thanks to bad customer experiences in 2013? And the CX scores have dipped in the last two years. The author feels these three items could be the cause:

Lack of empathy

More focus on problems

Lack of ownership of CEM design

The author explains in detail some of these points and supports his assessment with some survey scores that prove that there is whole lot of difference between what customers want and what they get.

We have been talking about CX for some time now. CX is gaining attention as an area of differentiation and increased customer engagement. In a recent report, co-published by E-consultancy and Adobe, around the importance of “customer experience” and the relationship and experience a customer has with a brand, the following were the top findings:

CX is a huge initiative for marketing

CX requires unity and cultural change

CX drives innovation

CX differentiates a brand

An effective cultural change from top to bottom can create a truly engaging and positive customer experience and lead to big results in how a brand is viewed in the market.

It is said that honesty is the best policy. Transparency can work wonders for your company. Customer don’t view brands as machines. They would rather trust someone who accepts their faults, focuses on their strengths, and innovates regularly. Customer service is an area, apart from the quality of your product, where you can create loyal customers.

This article consists of a very interesting infographic that has some wonderful statistics. We are sure you will be hooked on to it until the last line.

Customer perception is beyond the control of any brand. This does not mean that the quality of customer experience cannot be improved on a regular basis. In fact, companies must optimize their processes to deliver the best experiences at every given opportunity.

The business results to be expected as a return on customer experience investment must go beyond the obvious. It can be limited to metrics, like increase in revenue per customer. Even new metrics for assessment must be innovated. One such metric could be if the customer’s expectations were exceeded. Specific methodologies and best practices for successful customer experience strategy implementations are very hard to find. Each success came after multiple failed attempts and is unique to the market in which the company operates.

We hope you enjoyed our picks and bookmarked a few of these articles for future reference. Please don’t forget to share the buzz with other CX professionals.

Are there any other topics of CX that interest you? Tweet us, or comment below to let us know!

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